Phone number spoofing is where highly sophisticated criminals use software so that when phone calls are received, the number comes up different to the one they are calling from and may show as that of a firm of solicitors. It’s also known as Payment Diversion Fraud and criminals will then pretend to be solicitors and ask for payments to be made to a bank account that they control, which can result in large losses for home buyers/sellers.
In addition, house moving is often a very busy and stressful time, which means house buyers/sellers may be more susceptible to falling victim to Payment Diversion Fraud.
Victims can lose hundreds of thousands of pounds, and may never get their money back.
If a house buyer/seller receives a telephone call from somebody saying they are from LPL, in which they are provided bank details to which payments or transfers should be made, they should follow this advice:
- wait 5 minutes (criminals will sometimes stay on the line once the person thinks they have hung up) or use a different phone;
- call back LPL on a trusted number, such as 0333 3051 012 or any number listed on the LPL website contact us page, to check the details before making any payments or transfers;
- if any doubt do not make the payment or transfer (criminals will often try and rush house buyers/sellers by saying it is urgent or must be done immediately)
NECC have produced a flyer for conveyancing clients warning of the risk of payment diversion fraud, especially in relation to property transactions.
